A company reports the following pretax income (loss) for both financial reporting purposes and tax purposes. Year Pretax Income (Loss) Tax Rate 2018 $167,000 18% 2019 56,000 18 2020 (579,300) 23 2021 320,100 27 2022  580,700  31 Assuming that the company can carryforward its 2020 net operating loss, what is the amount of deferred tax asset the company would report at the end of 2020 r

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A: A deferred tax obligation represents a balance-sheet item that indicates the income tax that a firm…

Q: vanhoe Corporation reported $202000 in revenues in its 2021 financial statements, of which $68,000…

A: SOlution: Deferred income tax liability = Future taxable amount * Tax rate of 2022

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